Owls Tax Deadline Extended by 28 Days

League One side Sheffield Wednesday have been given a boost in their bid to avoid administration and a mandatory 10 point deduction having been granted an extra 28 days to come up with the cash they need for an unpaid tax bill to HMRC. The South Yorkshire club were staring down the barrel of another winding up order from the taxman who is chasing £1.4 in unpaid bills, but the High Court has granted a 4 week extension in what it has called exceptional circumstances. The Owls are desperately seeking a buyer to help clear their total debts that are thought to be in the region of around £27 million, and to inject new cash into the club to buy players that can help launch them back to the upper levels of English football.

Although there have been several interested parties, only Leicester city chairman Milan Mandaric has so far shown proof of funds that were required by the clubs main creditor the Cooperative Bank – but he has now seemingly shied away from the deal having failed to make an arrangement with former Wednesday chairman Dave Allen over a reported £2.4 million pound debt. In spite of such public off the field financial problems Wednesday have made a reasonable start in League One following their relegation from The Championship last season and currently lie in 9th position - just 2 points outside the playoff places.